ShengdaTech Inc.
ShengdaTech, Inc. Repurchases $19.75 Million Face Value of its 6.00% Convertible Senior Notes, to Report Fourth Quarter Gain
Published in Healthcare Finance, Tax and Law Weekly, December 17th, 2008
ShengdaTech Inc. ("ShengdaTech" or "the Company") (NASDAQ:SDTH), a leading manufacturer of nano precipitated calcium carbonate ("NPCC") and a major manufacturer of coal-based chemical products in Shandong Province, PRC, announced that it has repurchased, in a series of privately negotiated transactions executed between November 18 and November 25, 2008, an aggregate of $19.75 million face value of its 6.0% Convertible Senior Notes due 2018, for consideration of approximately $9.89 million, plus accrued interest in cash.
In May 2008, ShengdaTech issued $115 million of its 6.0% Convertible Senior Notes. Following these repurchases, $95.25 million face value of the...
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